Fullerton, CA · Member since 2016 · 11 posts · 0 votes
Under the California Business and Professions Code, it is required in the sale of residential property of not more than four units that the listing (or other document that initially establishes the broker's right to a commission, or changes the commission rate) contains the clause: "Notice: The amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the seller and broker."
Which CAR form contains the above statement? Or, I need to create a separate form to do it?
Exactly - as Wayne said. And be aware that even if they tell you it must be a 6% commission to them, it is NEGOTIABLE! And tight now, with agents clamoring for listings, which are scarce, it is totally acceptable to offer 5%. i would not go below that though.